Regions West | Seattle/Portland
Oct 7, 2008
First mortgage financing for The Palisades, a 192-residence apartment property in Bellevue, Wash., has been put in place, and with perfect timing. Acting on behalf of the borrower, NorthMarq Capital Inc. secured the financing--based on a 10-year fixed-term with a one-year floating option and a 30-year amortization schedule--through its seller-service relationship with Freddie Mac just days before the U.S. Department of the Treasury grabbed the reigns at troubled Freddie Mac and Fannie Mae. Built in 1969 and most recently renovated in 2006, The Palisades is located at 13808 NE 12th St., less than 15 miles east of Seattle.
First mortgage financing for The Palisades, a 192-residence apartment property in Bellevue, Wash., has been put in place, and with perfect timing. Acting on behalf of the borrower, NorthMarq Capital Inc. secured the financing--based on a 10-year fixed-term with a one-year floating option and a 30-year amortization schedule--through its seller-service relationship with Freddie Mac just days before the U.S. Department of the Treasury grabbed the reigns at troubled Freddie Mac and Fannie Mae. Built in 1969 and most recently renovated in 2006, The Palisades is located at 13808 NE 12th St., less than 15 miles east of Seattle.
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